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kthompson
Join Date: Oct 2005
Posts: 5275 South Carolina
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2007-09-13          145683


There is no reason for this to be a rant on this.

I was watching part of Farm program from Chicago about 2 weeks ago and they were talking about rent for corn land, guess in the corn belt. Could not believe it when they said it is from $250 to $300 per acre (per year I assume). I thought $50 per year, per acre was high. Now I do know the dirt is much richer there and the yield is higher but still WOW.

Any idea about land rents there? kt




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hardwood
Join Date: Dec 2002
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2007-09-13          145685


Kthompson; Here in eastern Iowa land rents are going high along with the cost of farmland. Outside investors in farmland like to see a 5% return, so $5,000.00 an acre farmland equals 250.00 per acre per year, some even demand it in advance of the farmer planting the crop. Frank. ....


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earthwrks
Join Date: Dec 2003
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2007-09-13          145697


In my immediate area southwest of Detroit about 20 miles, Ag land goes for 1/4 of whatever he gets when he brings the soybeans to market. If the farmer has a bad year so too does the land owner, and vice versa. It's mostly cash-only deals between friends anyway. ....


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kthompson
Join Date: Oct 2005
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2007-09-14          145704


Hardwood, in my county if you could find "land" farm or wood for $5,000 per acre it would be snapped up. Most of the rented farm land is local family owned. Even the corperations here who have rented farm land are still in the $50 or so per acre per year. Some do pay in advance and some at end of year. ....


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yooperpete
Join Date: Jan 2004
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2007-09-14          145724


Here in mid-Michigan where there is rich farmland it goes for about $120.00-$140.00/acre in parcels of 40 acres or more. It also depends on drainage. My 40 has tile every 50 feet. ....


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TumbaDowns
Join Date: Apr 2009
Posts: 21 Tumba Downs, Kowguran, Qld, Australia
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2009-06-04          163182


when i bought my place back in 2003 i paid $111.40 per acre and that included a 40by60'ft shed and a 3 bedroom house, down this way if you are paying $5000 per acre it would want to have a money tree planted in every acre. think the most is see is $560 per acre and that was prime sugar cane country out near the coast, when i 1st got here i had no cattle so i agisted my property (run other people stock) and got $1.70 per beast per week. i suppose its like rental. ....


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auerbach
Join Date: Sep 2007
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2009-06-04          163184


Doesn't your government for some reason subsidize corn growing? ....


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kthompson
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2009-06-05          163215


auerbach,
Which country are you asking this of? If the USA is I missed it. ....


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earthwrks
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2009-06-07          163264


Kenny I think they're both referring to Australia where Tumba is from. ....


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kthompson
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2009-06-07          163277


Quote:
Originally Posted by earthwrks | view 163264
Kenny I think they're both referring to Australia where Tumba is from.


Thanks Jeff. I hope and pray you have a great week ole friend. ....


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TumbaDowns
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2009-06-09          163331


Dont know about corn subsidy as i dont grow the stuff, grew some sweet corn in the garden for dinner. but that was back when i had a couple of pigs. sold em off cause it cost too much to feed em, $40 every two weeks for pollard and barely. just started stick raking 85 acre with the old Dozer probably take 3 or 4 weeks. winter coming on so not expecting any rain for a while. Wild Dogs (Dingo's) getting pretty bad had one come within 100 ft of the house but it bolted when it saw me, by the time i got the rifle out it was 1/2 mile away and still going. heard 4 or 5 howling at 3 am yester morning. and how this off the coast of Queenland there is a big sandy island called fraser Island. well they have wild dogs on there and anyway a while back they had a child attacked so the enviromentalists decided that rather than kill the dam things they would relocate them, and where better to put them right in the middle of cattle and sheep country, smart move!! they kill young calves and lambs. anyway Bob my neighbour is out getting fire wood and the dam dog walked right up to the car. so he shoot it. Any dog we see on our property is fair game. we also do baiting as well i put out 12 baits last week and when i checked after a few days 9 baits were gone. funny but when you bait you never find a dead dingo, that enought for this one. ....


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auerbach
Join Date: Sep 2007
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2009-06-09          163335


Disregard if I'm missing an inside joke; otherwise, this is all I can tell you. I recently read a criticism of a US plan to require ethanol (15% instead of 10% or something) to be added to gasoline -- because the government's subsidy of corn (the planned source of the ethanol) seriously distorted the marketplace. ....


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kthompson
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2009-06-09          163341


Quote:
Originally Posted by auerbach | view 163335
Disregard if I'm missing an inside joke; otherwise, this is all I can tell you. I recently read a criticism of a US plan to require ethanol (15% instead of 10% or something) to be added to gasoline -- because the government's subsidy of corn (the planned source of the ethanol) seriously distorted the marketplace.


I have no idea. No inside joke from me. Or outside one for that matter. I know I sold last year's corn for less than $5 a bushel when it had been if memory is correct over $8 about July or so. Might be the check Obama has promised. Now that is also not a joke, too sad. ....


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hardwood
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2009-06-09          163349


There are all kinds of opinions on the use of corn to produce ethanol for fuel use. I haven't kept up to date on the number of bushels now being used for ethanol, but it is increasing every year. There are those who think it is wrong to use a grain to produce fuel that could be used to feed people. Another group says the feeding corn to livestock is wrong, yes it would be more effecient to feed corn diretly to people rather than produce meat with it, but how many people would like to eat cornbread or corn mush every day rather than meat? Agreed there are people here and in other countrys who are hungry, but usually the political system of other countrys is a roadblock to getting food to the hungry.
Without a catostropic worldwide weather event we will not run out of corn. The genetic traits of modern corn hybrids, the vast improvments in soil, water, and nutrient care and useage, plus the management abilitys of the producers have raised average yields to levels we thought pie in the sky just a decade ago. Without doubt the average yields of today will look limp ten years from now.
Supply and demand will dictate how much corn or any other grain will be used for ethanol. ....


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AnnBrush
Join Date: Mar 2004
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2009-06-10          163357


Currently about 1/3rd of the US corn crop is going into Ethanol. This has caused increased grain prices in general and has encouraged a lot of commodities speculation.

"Without a catostropic worldwide weather event we will not run out of corn." As far as the US goes, if it were not for the economic slowdown at the end of 2008 and fantastic yields due to weather we were looking at a negative holdover amount for the 2007/2008 corn crop. As of the end of 2007 Iowa is now a net corn importer.

"Supply and demand will dictate how much corn or any other grain will be used for ethanol." - Not so there is a govt. mandate to use X amount of corn each year to ethanol - provided in a 51c / gallon ethanol production subsidy. So far we are on track.
....


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kthompson
Join Date: Oct 2005
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2009-06-10          163358


Ann, based upon what I found it looks like your info is correct. But this I know, at the current price of mid $4 for corn, glad I rented my land this year. With the yeilds some of the corn belt gets that may work but our lands yeilds much less but input cost are really only lower in land rent. ....


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